Automation, digital twins, supply chain
diversification help companies thrive despite ongoing disruptions,
ISG Provider Lens™ report says
Industrial companies across North America are investing in smart
manufacturing, supply chain improvements and aftermarket services
in response to multiple market trends, according to a new research
report published today by Information Services Group (ISG) (Nasdaq:
III), a leading global technology research and advisory firm.
The 2023 ISG Provider Lens™ Manufacturing Industry Services and
Solutions report for North America finds that inflation, supply
chain issues, regional conflicts and accelerating product release
cycles have led many companies to step up their technology and
services investments. Productivity improvements, cost reduction and
supply chain resilience are top priorities.
“The plants of the future will be connected, digitally enabled
factories that revolutionize the whole manufacturing ecosystem,”
said Bob Krohn, ISG partner, Manufacturing. “Companies will
profoundly benefit from access to more data, extracted from more
parts of the value chain and delivered faster than ever.”
North American firms are leading adopters of smart
manufacturing, a set of innovations that enable shop floor
digitalization, automation and asset management, and of new
data-driven capabilities such as real-time demand forecasting, the
report says. Companies are adding so much automation to systems
that cooperation between IT and operational technology (OT) teams
now includes engineering technology (ET) roles, making IT/OT/ET
collaboration an essential strategy.
Digital twins — virtual recreations of processes and products —
are becoming an increasingly important tool in both discrete and
process manufacturing, ISG says. They enable companies to create
better designs, optimize manufacturing processes and supply chains
and accelerate engineering. Manufacturers and providers are now
solving a growing digital-twin management challenge by closely
integrating the simulations with product lifecycle management
software.
As supply chains recover from disruptions caused by the COVID-19
pandemic, manufacturers now have better access to semiconductors
and other components that had became scarce, the report says.
However, geopolitical conflicts and other events are still
affecting some supplies, leading some North American manufacturers
to diversify their supply chains through in-house manufacturing and
nearshoring to Latin America.
In the face of growing manufacturing challenges, many firms are
also diversifying their revenue streams by introducing
service-based business models, such as subscription, pay-per-use
and as-a-service, ISG says. Data and connectivity now enable
companies to better monitor and support products after sale,
opening up new revenue streams.
“Aftermarket services provide data that helps manufacturers
understand how their products perform and are used by customers,”
said Jan Erik Aase, partner and global leader, ISG Provider Lens
Research. “This feeds back into product improvement and new product
development.”
The report also explores other trends affecting North American
manufacturers, including aging workforces and efforts to minimize
the environmental impact of used products.
For more insights into manufacturers’ challenges and advice for
addressing them, including how to partner with a provider to
strengthen manufacturing resilience, see the ISG Provider Lens™
Focal Points briefing here.
The 2023 ISG Provider Lens™ Manufacturing Industry Services and
Solutions report for North America evaluates the capabilities of 33
providers across four quadrants: Aftermarket Services, Agile
Product Development and Design Services, Digital
Factory/Manufacturing Solutions and Manufacturing Supply Chain and
Procurement Services.
The report names Accenture, Capgemini, Cognizant, HCLTech, IBM
Consulting, Infosys, TCS and Wipro as Leaders in all four
quadrants. It names LTTS, NTT Data, PwC and Tech Mahindra as
Leaders in two quadrants each. Akkodis, Harman DTS and LTIMindtree
are named as Leaders in one quadrant each.
In addition, Akkodis, Genpact, Harman DTS and LTIMindtree are
named as Rising Stars — companies with a “promising portfolio” and
“high future potential” by ISG’s definition — in one quadrant
each.
The 2023 ISG Provider Lens™ Manufacturing Industry Services and
Solutions report for North America is available to subscribers or
for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Brazil,
the U.K., France, Benelux, Germany, Switzerland, the Nordics,
Australia and Singapore/Malaysia, with additional markets to be
added in the future. For more information about ISG Provider Lens
research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype
reports, offer a first-of-its-kind evaluation of providers from the
perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including automation, cloud and data analytics; sourcing advisory;
managed governance and risk services; network carrier services;
strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240116713224/en/
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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